Generali's board has reportedly sanctioned a memorandum of understanding regarding an asset management agreement with Natixis, a subsidiary of BPCE, according to sources.
The board of Generali, Italy's leading insurance company, has sanctioned a memorandum of understanding (MoU) that facilitates an asset management partnership with BPCE's Natixis Investment Managers, aimed at establishing a prominent European entity, according to two sources familiar with the situation.
Generali and BPCE have been in discussions regarding a collaboration to form a top-tier European fund manager, particularly as the industry faces pressures to expand in order to protect profit margins, counter competition from American firms, and support increasing investments in technology.
Earlier on Monday, sources informed Reuters that the boards of directors for both Generali and BPCE were anticipated to approve the collaboration, with a preliminary agreement potentially being announced as soon as Tuesday.
